Understanding the Impact of Web 3.0 on Business: A Comprehensive Guide

Polygon’s Zero-Knowledge Ethereum Virtual Machine Experiences Downtime Due to Blockchain Sequencer Issue

The popular Ethereum scaling protocol, Polygon, has reported that its zero-knowledge Ethereum Virtual Machine (zkEVM) is currently facing downtime due to a problem with its blockchain sequencer.

In a recent announcement, Polygon reassured its two million followers that the issue is limited to the zkEVM and does not affect any other chains built with the Polygon chain development kit (CDK).

The root of the problem lies with the blockchain sequencer, which is responsible for organizing and combining transactions into batches before sending them to the Polygon zkEVM smart contract on the Ethereum main network.

Polygon is actively working towards resolving the issue and has promised to provide a detailed “post-mortem” statement once it is resolved.

Exploring the Impact of Web 3.0 on Business and How to Get Involved

As the concept of web 3.0 gains more attention, many are wondering how it will affect businesses and how to get involved in this new era of the internet.

Some key questions to consider include: Is web 3.0 based on blockchain technology? How will it work? How can businesses learn about and adapt to web 3.0? What sets it apart from web 2.0?

To stay ahead of the game, it’s crucial to understand the basics of web 3.0 and how it differs from its predecessor. Additionally, businesses can explore opportunities to build web 3.0 websites and invest in this emerging technology.

Crypto Community Remains Silent as Polygon zkEVM Experiences Unexpected Prolonged Downtime

Many members of the X community are questioning the lack of discussion surrounding the extended network outage of Polygon zkEVM.

0xngmiask, a prominent user on X with over 100,000 followers, raised the question to his audience: “Why is no one addressing the 10-hour downtime of Polygon zkEVM?”

Mirza.inj, another user with a following of 14,800, also pointed out the lack of attention towards the issue, stating “Polygon zkEVM was down for over 10 hours and no one seemed to notice.”

This incident comes just a month after the Solana network experienced a major outage, highlighting the potential impact of web 3.0 on the crypto world.

Exploring the Impact of Web 3.0 on Blockchain and Business

On Feb. 6, Cointelegraph reported that production of blocks on the Solana network came to a halt for over five hours before validators were able to restart the network. This marks the latest in a series of outages that have occurred on the Solana network since January 2022.

In March 2023, Polygon launched the zkEVM on its mainnet beta, providing developers with the ability to deploy smart contracts at lower costs and with increased finality. This move by Polygon aims to address the scalability issues faced by decentralized applications (DApps) by implementing transaction batching and unlocking higher performance.

According to Polygon, the open-source zkEVM closely mimics the transaction execution environment of Ethereum’s mainnet, making it easier for developers to transition to this new technology. As the industry continues to shift towards web 3.0, it is essential for businesses and individuals to learn about the potential of blockchain and how it differs from web 2.0. By understanding these differences, one can better prepare for the future of the internet and take advantage of the opportunities that web 3.0 presents.